Greece – News Stories About Greece - Page 16

Oct 19, 2011 7:01 AM CDT

Massive Strike Shuts Greece

An estimated 50K protest in Athens

(Newser) - Workers across Greece walked off the job today for a crippling 48-hour general strike, closing shops, schools, courts, ports, and more. A host of flights were canceled—though mercifully airline workers shortened their strike to just 12 hours—and public transportation was functioning with a reduced staff, according to the...

Greece Braces for
'Mother of All Strikes'

Oct 18, 2011 1:45 PM CDT

Greece Braces for 'Mother of All Strikes'

Prime minister orders garbage crews back to work

(Newser) - Don’t try to get anything done in Greece tomorrow: A coalition of unions representing roughly half of the country’s 4 million workers has called for a 48-hour general strike starting tomorrow to protest upcoming austerity measures, Reuters reports. One Greek newspaper has dubbed it “the mother of...

As Default Looms,
Strike Paralyzes Greece

Oct 5, 2011 7:56 AM CDT

As Default Looms, Strike Paralyzes Greece

'We've lost everything,' says striker as thousands protest austerity measures

(Newser) - The biggest strike in months has brought Greece to a standstill and tens of thousands of workers are taking to the streets of Athens. The strike, organized by the country's two biggest unions, is in response to the tough austerity measures unveiled earlier this week , reports the Los Angeles ...

Stocks Diving to
Bear Market Levels

MARKETS

Oct 4, 2011 8:42 AM CDT

Stocks Diving to Bear Market Levels

S&P slips below threshold at this morning's open

(Newser) - Wall Street is getting nervous, and not because of protesters. Stocks have been plummeting hard, and are now just inches above the threshold for what traders consider a bear market. The Dow dove 240 points on Friday and another 258 yesterday, leaving it perilously close to the bear market threshold...

Greece Announces Austerity Plan to Fire Workers

Greece to Fire
30K Workers

Oct 2, 2011 3:35 PM CDT

Greece to Fire 30K Workers

Budget deficit will fall short of EU, IMF targets

(Newser) - The Greek economic tragedy took another hair-raising turn today, Reuters reports. Enacting an austerity plan to attract EU and IMF loans, politicians there announced a new plan to place 30,000 workers in a "labor reserve" where they will earn partial pay and be laid off in a year....

Stocks Plummet
on Greece Fears

MARKETS

Sep 19, 2011 9:48 AM CDT

Stocks Plummet on Greece Fears

Dow down more than 200 points

(Newser) - Stocks took a dive this morning as investors fretted over Greece’s deepening debt crisis. The Dow plunged 246 points, according to the Wall Street Journal , while the S&P and Nasdaq shed 26 and 55 points, respectively. Crude oil sank as well, dropping below $85 a barrel. “The...

Moody's
Downgrades
French Banks

Sep 14, 2011 4:17 AM CDT

Moody's Downgrades French Banks

Greek debt crisis hits SocGen, Credit Agricole

(Newser) - The Greek debt crisis has hit the credit rating of two of France's biggest banks. Moody's has downgraded Societe Generale and Credit Agricole by a notch, and warned the country's biggest bank, BNP Paribas, that it may be next in line. The banks have seen their share...

Greek Sprinters Cleared in Faking '04
Car Crash

Sep 7, 2011 1:22 PM CDT

Greek Sprinters Cleared in Faking '04 Car Crash

Olympians accused of ducking drug tests

(Newser) - A Greek court yesterday overturned convictions for a pair of Greek sprinting stars accused of faking a car crash to avoid a drug test on the eve of the 2004 Athens Olympics that were supposed to catapult them into national heroes. The judges ruled that there was reasonable doubt as...

Top Greek Banks Plan Merger

Aug 29, 2011 12:19 PM CDT

Top Greek Banks Plan Merger

Alpha Bank, Eurobank combine to help fix troubled sector

(Newser) - Two of Greece’s biggest banks are teaming up to fight the country’s banking crisis. Alpha Bank and Eurobank are set to merge into the country’s largest bank and one of the top 25 in the euro zone. “I am confident that the new combined entity will...

Moody's:
Greek Default
'Virtually Certain'

Jul 25, 2011 6:27 AM CDT

Moody's: Greek Default 'Virtually Certain'

But EU effort means country will likely stabilize

(Newser) - Moody's downgraded Greece's bond ratings by a further three notches today and warned that it is almost inevitable the country will be considered to be in default following last week's new bailout package . The agency says the new EU package of measures implies "substantial" losses for...

Greece Gets
Bailout Deal

Jul 21, 2011 5:42 PM CDT

Greece Gets Bailout Deal

Eurozone nations, IMF agree to $155B deal

(Newser) - Eurozone leaders today agreed to a sweeping deal that will grant Greece a massive new bailout and radically reshape the currency union's rescue fund, allowing it to act pre-emptively when crises build up. The deal resolves a political deadlock between Europe's top economic authorities over how to save...

S&P: Greek Rescue Plan Would Count as a Default

Jul 4, 2011 11:19 AM CDT

S&P: Greek Rescue Plan Would Count as a Default

Credit rating firm rejects French banks' plans

(Newser) - Greece got yet more bad news today, when Standard & Poor's issued a statement saying that a proposed rescue plan from banks in France "would likely amount to a default" as far as it was concerned. French banks planned to roll over their holdings in the country's...

Greece Passes 2nd
Austerity Bill

Jun 30, 2011 9:25 AM CDT

Greece Passes 2nd Austerity Bill

Final hurdle before receiving bailout funds now cleared

(Newser) - Greece has bought itself some time to deal with its crippling debt crisis after lawmakers cleared the final hurdle for crucial bailout funds to be released, which will prevent the country from defaulting next month. The EU and IMF had demanded Parliament pass two bills— an austerity law and a...

Greek Austerity
Measures Pass

Jun 29, 2011 8:31 AM CDT

Greek Austerity Measures Pass

Despite protests, bill grabs majority in parliament

(Newser) - It’s official: Greece’s parliament has approved a wave of sweeping—and wildly unpopular—austerity measures, paving the way for it to receive bailout loans from Europe to avoid defaulting on its debt, the AP reports. The bill passed 155-138, garnering even the support of Alexandros Athanassiadis, a Socialist...

Streets Erupt as Greece
Begins Austerity Vote

Jun 29, 2011 7:47 AM CDT

Streets Erupt as Greece Begins Austerity Vote

Deep cuts expected to pass

(Newser) - Things got ugly in the streets of Athens today, as Greece’s parliament began voting on austerity measures—needed to keep the nation out of default—that looked increasingly likely to pass. Police firing tear gas fought what Reuters describes as “running battles” with protesters, who threw firebombs, rocks,...

Youths Hurl Rocks as Greeks Begin 2-Day Strike

Jun 28, 2011 7:52 AM CDT

Youths Hurl Rocks as Greeks Begin 2-Day Strike

20,000 march on Parliament

(Newser) - Greek workers launched a 48-hour general strike today to protest government austerity measures as 20,000 demonstrators headed to Parliament and another 7,000 marched in the country’s second-biggest city. Some 5,000 police guarded Athens, and while the initial protests were peaceful, things are heating up. Young people...

Oil Drops Below $91
on Release of Reserves

Jun 27, 2011 9:51 AM CDT

Oil Drops Below $91 on Release of Reserves

Investors optimistic Greece will approve austerity plan

(Newser) - Oil prices slipped below $91 a barrel today as markets grappled with Greece's debt crisis and the release of crude reserves by the International Energy Agency. By early afternoon in Europe, benchmark oil for August delivery was down 61 cents to $90.55 a barrel in electronic trading on...

Greece Leader
Survives Crucial Vote

Jun 21, 2011 5:21 PM CDT

Greece Leader Survives Crucial Vote

Papandreou win clears way for austerity plan to appease creditors

(Newser) - Greek Prime Minister George Papandreou has survived a confidence vote in parliament, winning a gamble on his government's survival and the danger of a devastating debt default that could spark a financial maelstrom around the world. Papandreou won 155 votes to 143, with two abstentions in the 300-member legislature.

Greek PM Faces Critical
Vote of Confidence

Jun 21, 2011 9:21 AM CDT

Greek PM Faces Critical Vote of Confidence

And that's the easy part

(Newser) - Greek Prime Minister George Papandreou faces a critical vote of confidence tonight that will determine both his political future and that of Greece—and in some ways, that’s the easy part. If Papandreou survives the midnight vote (5pm ET) he’ll be able to pass austerity measures that will...

Europe Delays Decision on Handing $17B to Greece

Jun 20, 2011 6:28 AM CDT

Europe Delays Decision on Handing $17B to Greece

New austerity measures must be passed first

(Newser) - European finance officials ramped up pressure today on Greece, delaying their decision on whether to release the next $17 billion in rescue loans to the debt-laden country. Officials indicated the next installment of emergency loans would be disbursed in July, but only if Greece enacts controversial new austerity measures including...